Fund managers hope for more robust socially conscious options

Friday, July 25, 2014

Money managers work to build products for younger investors, who are expected to favor values-driven investing

There was a time when asset management firms were comfortable telling faith-based investors, “God is good, see you later,” says Joseph M. Kinard, a director at the Board of Pensions of the Presbyterian Church (USA).

That’s no longer the case. The group, which manages more than more than $9 billion and has nearly 20,000 church pensioners, is increasingly wielding its assets to work in a way that better aligns with its values.

“We had to take our money back and our narrative back,” said Mr. Kinard. “You could be blind as a bat and make money. The question is what are you doing for the future?”

Institutional investors and wealthy individuals are increasingly asking investment consultants about how they can affect their values through investing, according to Nicholas Elfner, director of corporate research for bond manager Breckinridge Capital Advisors.

Both men spoke Tuesday at a conference in New York that brought together researchers and money managers looking to build out the $3.7 trillion U.S. market for socially conscious investing.

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